Delta Electronics (Thailand) (DELTA) Q4 2025 earnings summary

Executive summary

• Fiscal year 2025 closed with strong performance: revenue up 30.9% year-on-year to $6.025 billion (THB 198.2 billion), net profit up 42.4% to $754 million (THB 24.8 billion), driven by digitization, AI, and decarbonization demand.

• Growth supported by balanced product mix, disciplined cost management, and resilient supply chain amid global tech sector challenges.

• The Group operates globally in power electronics, mobility, infrastructure, and automation segments, with a diversified customer base and no major customer concentration in 2025.

• Continued focus on AI, energy transition, and smart infrastructure for next phase growth.

• Consolidated financial statements for 2025 received an unqualified opinion from the independent auditor.

Financial highlights

• Full year 2025 revenue: $6.025 billion (THB 198,154 million), up 30.9% year-on-year; net profit: $754 million (THB 24,814 million), up 42.4% year-on-year.

• Q4 2025 production revenue increased 11% quarter-over-quarter; overall revenue exceeded expectations, achieving 127% of budget.

• Building automation revenue in Thailand grew 160% year-on-year; India's Q4 revenue up 15% year-on-year.

• Industrial and medical business revenue in Europe and US grew 25.4% year-on-year in 2025.

• Q4'25 gross profit was THB 16.5 billion (28.5% margin), up 75.5% year-on-year; FY2025 gross profit was THB 53.6 billion (27.1% margin), up 32.4% year-on-year.

Outlook and guidance

• Global GDP growth forecast at 3.3% for 2025 and 2026; Thailand GDP growth at 1.5% in 2026 and 2.3% in 2027.

• Double-digit growth expected for 2026, driven by AI data center infrastructure projects and strong customer forecasts.

• The Board proposed a dividend of Baht 0.60 per share (total Baht 7,484 million) for 2025 results.

• Group restructuring is planned, with the parent company acquiring a wholly owned subsidiary in 2026.

• Q1 2026 expected to be busy with strong growth momentum continuing through the year.